INSIDER
Final days to get your free weekly credit report drawing near
Read full article: Final days to get your free weekly credit report drawing nearChecking your credit report regularly is important. You may spot inaccurate information that could hurt your chances of getting a loan, or you could find signs that your identity has been stolen.
Regulators: threats to US financial system remain elevated
Read full article: Regulators: threats to US financial system remain elevatedThe nation’s top financial regulators told Congress Friday that threats to financial stability remain elevated even though the country has recovered from the worst economic shocks stemming from the COVID pandemic.
Fed officials: Bond purchases could end by middle of 2022
Read full article: Fed officials: Bond purchases could end by middle of 2022Federal Reserve officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022.
Senate parliamentarian deals fresh immigration blow to Dems
Read full article: Senate parliamentarian deals fresh immigration blow to DemsThe Senate parliamentarian has told Democrats that their newest proposal for helping millions of immigrants stay in the U.S. permanently could not be included in their $3.5 trillion social and environment bill.
Yellen says infrastructure overhaul will US boost economy
Read full article: Yellen says infrastructure overhaul will US boost economyTreasury Secretary Janet Yellen says that President Joe Biden’s spending proposals represent will address long-overdue U.S. infrastructure needs and prepare the country to meet future challenges.
Rental assistance fell victim to politics, bureaucracy
Read full article: Rental assistance fell victim to politics, bureaucracyA rental crisis spurred by the pandemic prompted many states to make bold promises to help renters, but most failed to deliver on them after Congress passed the sweeping CARES Act in March 2020.
HISD Board approves $12M in CARES Act reimbursement funding
Read full article: HISD Board approves $12M in CARES Act reimbursement fundingHOUSTON – The board of the Houston Independent School District has approved more than $12 million in CARES Act reimbursement funding. The money will cover the expenses related to COVID-19, reimbursing numerous costs, such as technology, supplies and distance-learning materials required during the pandemic. The board also approved allowing K-12 virtual students to take the STAAR test on campus, while students who are attending in-person classes and are not scheduled to take the STAAR test move to remote learning. This decision will help increase social distancing while students take the exam, according to a release. More on what the board voted on:
Houston woman who received $3.5M under CARES Act accused of spending money on vehicles, luxury goods
Read full article: Houston woman who received $3.5M under CARES Act accused of spending money on vehicles, luxury goodsHOUSTON – A woman faced federal charges Tuesday afternoon after authorities said she committed fraud to get millions of dollars from the CARES Act. Authorities said Wiggins submitted two Paycheck Protection Program (PPP) loan applications for businesses known as Wiggins & Graham Enterprise LLC and Pink Lady Line, and received $3,648,145. According to court documents, Wiggins used the funds to make personal purchases, including two homes, multiple vehicles and luxury goods. The CARES Act provides emergency financial assistance to millions of Americans who are suffering the economic effects caused by the COVID-19 pandemic. AdBusinesses must use PPP loan proceeds for certain permissible expenses, such as payroll costs, interest on mortgages, rent and utilities.
CARES Act fraud charges announced in Fort Bend County
Read full article: CARES Act fraud charges announced in Fort Bend CountyRICHMOND, Texas – The Fort Bend County District Attorney’s Office held a news conference Thursday morning to announce the investigation and filing of fraud charges related to the Coronavirus Aid, Relief, and Economic Security Act, commonly known as the CARES Act. Watch a live stream of the event in the video above.
Ask 2: I’m still waiting on my additional $300 from the CARES Act Extension. Will I get benefits for the time I’ve been waiting?
Read full article: Ask 2: I’m still waiting on my additional $300 from the CARES Act Extension. Will I get benefits for the time I’ve been waiting?Question: I’m still waiting on my additional $300 through the CARES Act Extension. Will I get benefits for the time that I’ve been waiting? Answer: According to the Texas Workforce Commission (TWC), those who qualify for the additional $300 through the CARES Act Extension will have those benefits backdated. If you qualify for the add'l $300 through the CARES Act Extension, you will get those benefits backdated. pic.twitter.com/cljp1rbJMe — Texas Workforce Commission (@TXWorkforce) January 26, 2021According to its website, TWC will automatically enroll all Texans who are eligible for benefits under the CARES Act.
Snags on COVID-19 relief may force weekend sessions
Read full article: Snags on COVID-19 relief may force weekend sessionsThe holdups mean a weekend session now appears virtually certain, and a top lawmaker warned that a government shutdown this weekend can’t be ruled out. Now, Republicans are motivated chiefly to extend business subsidies and some jobless benefits, and provide money for schools and vaccines. The urgency was underscored Thursday by the weekly unemployment numbers, which revealed that 885,000 people applied for jobless benefits last week, the highest weekly total since September. Some Democrats also mourned the exclusion of a $500 million aid package to help states run their elections. The emerging package would combine the $900 billion in COVID-19 relief with a $1.4 trillion government-wide funding bill.
Negotiators make progress on long-delayed COVID-19 aid bill
Read full article: Negotiators make progress on long-delayed COVID-19 aid billThe long-delayed measure was coming together as Capitol Hill combatants finally fashioned difficult compromises, often at the expense of more ambitious Democratic wishes for the legislation, to complete the second major relief package of the pandemic. But lawmakers briefed on the outlines of the aid bill freely shared them. President-elect Joe Biden is eager for an aid package to prop up the economy and deliver direct aid to the jobless and hungry, even though the package falls short of what Democrats want. The frightening, record surge in COVID caseloads and deaths, combined with troubling economic indicators, however, is mandating an agreement, though the emerging package contains less economic stimulus than the March aid bill. With Congress otherwise getting ready to close up shop, lawmakers are eager to use the relief package to carry other unfinished business.
COVID-19 relief: What's on the table as Congress seeks deal
Read full article: COVID-19 relief: What's on the table as Congress seeks dealThe duo were the architects of the $1.8 trillion CARES Act, the landmark relief bill passed in March. Here are the top issues for the end-stage COVID-19 relief talks. ___JOBLESS BENEFITSThe CARES Act created a $600 per-week bonus COVID-19 unemployment benefit that sustained household incomes and consumer demand during the springtime shutdowns. House Democrats support the idea, but it is unpopular with many Senate Republicans and was left out of a scaled-back Senate GOP plan. ___LIABILITY SHIELDBusinesses reopening during the pandemic have for months been seeking a shield against lawsuits claiming negligence for COVID-19 outbreaks.
Houston partners with Comcast to provide nearly 5,000 internet vouchers
Read full article: Houston partners with Comcast to provide nearly 5,000 internet vouchersHOUSTON – Houston City Council has approved a nearly $625,000 program to provide internet vouchers to low-income Houstonians. Task Force has partnered with Comcast to provide around 5,000 vouchers to qualifying applicants from now until Dec. 20, 2020. This agreement will ensure qualifying applicants can continue to stay connected to the internet, a news release said. “This pandemic has highlighted the importance of quality internet service particularly for those vulnerable populations who must stay at home to stay safe,” Mayor Turner said. “During this unprecedented time, it is vital for Houstonians to stay connected to the Internet – for education, work, and personal health reasons,” said Comcast’s Melinda Little, Director of Government Affairs, Houston Region.
COVID-19 relief: What's on the table as Congress seeks deal
Read full article: COVID-19 relief: What's on the table as Congress seeks dealThe duo were the architects of the $1.8 trillion CARES Act, the landmark relief bill passed in March. Here are the top issues for the end-stage COVID-19 relief talks. ___JOBLESS BENEFITSThe CARES Act created a $600 per-week bonus COVID-19 unemployment benefit that sustained household incomes and consumer demand during the springtime shutdowns. House Democrats support the idea, but it is unpopular with many Senate Republicans and was left out of a scaled-back Senate GOP plan. ___LIABILITY SHIELDBusinesses reopening during the pandemic have for months been seeking a shield against lawsuits claiming negligence for COVID-19 outbreaks.
Houston City Council approves $10 million to boost Small Business Economic Relief Program
Read full article: Houston City Council approves $10 million to boost Small Business Economic Relief ProgramHOUSTON – The Houston City Council approved $10 million in additional funding for the Small Business Economic Relief Program. The money will come from the CARES Act 2020 funds and will bring the total money set aside for the program to $35 million. The program provides grant assistance to small businesses and chambers of commerce that have been adversely impacted by the COVID-19 pandemic. The maximum amount a business or chamber can receive from the SBERP is $50,000, according to the city. This component is meant to ensure businesses that receive grant funds have a higher likelihood of surviving the pandemic.
With no action by Washington, states race to offer virus aid
Read full article: With no action by Washington, states race to offer virus aidFaulting inaction in Washington, governors and state lawmakers are racing to get needed pandemic relief to small businesses, the unemployed, renters and others affected by the widening coronavirus outbreak. Funded through the CARES Act, it offered grants to small businesses, bars and restaurants, low-income renters, arts groups, and colleges and universities. “It’s shameful that they have not acted in Congress, especially (Senate Majority Leader Mitch) McConnell and the Republican Senate, to throw a lifeline to small businesses,” he said. Republicans have proposed a $300 million aid package to small businesses and nonprofits, but the legislation is stalled. “This isn’t like all the blue states are hurting and all the red states are humming along.
Turner announces $6.2 million effort to help domestic violence victims in Houston
Read full article: Turner announces $6.2 million effort to help domestic violence victims in HoustonHOUSTON – Houston Mayor Sylvester Turner announced that the city is investing $6.2 million, provided by the CARES Act funding, in an effort to fight domestic violence, which he said has increased during the coronavirus pandemic. Turner launched the Domestic Violence and Crisis Intervention Response Initiative with officials from both the Houston police and fire departments and Houston Public Health on Monday during a press conference. He said the initiative will help the city intensify its efforts to address the increase in domestic violence calls. The domestic violence response initiative is needed.”Officials with the Houston Health Department said its mental health division, crisis intervention response team and community partners will expand their reach to serve more domestic abuse victims. The Houston Health Department also launched Phase 2 of its public health campaign called, "Don’t stop.
Fed signals readiness to do more for economy as virus rages
Read full article: Fed signals readiness to do more for economy as virus ragesThe Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months. The Fed's policy statement, issued after a two-day meeting, made no mention of lawmakers' failure to act. The Fed’s latest policy meeting coincided with an anxiety-ridden election week and an escalation of the virus across the country. “All of us have a role to play, to keep appropriate social distance and to wear masks in public.”The central bank's policy statement Thursday was approved on a 10-0 vote. Another dissenter in September, Neel Kashkari, head of the Minneapolis Fed, was absent, with his alternate, Mary Daly of the San Francisco Fed, approving the statement.
Southeast Houston residents applaud city’s efforts to curb spike in violent crimes
Read full article: Southeast Houston residents applaud city’s efforts to curb spike in violent crimesHOUSTON – Southeast Houston considered by residents as a hotspot for crime and city leaders agree. On Monday, Houston Mayor Sylvester Turner, along with police Chief Art Acevedo listed the southeast side as one of six hotspots that are fueling an 11% increase in the city’s violent crime. The city and southeast residents all agree on the driving factor. “So they take it out on other families or other family members.”Along with southeast Houston, the Westside, South Gessner, North Belt, South Central and Midwest neighborhoods also are listed as hotspots. HPD says this crime reduction program will not hamper their efforts to combat crime in other parts of the city.
Fed's Powell: Lack of further stimulus imperils recovery
Read full article: Fed's Powell: Lack of further stimulus imperils recovery(Drew Angerer/Pool via AP)WASHINGTON – Federal Reserve Chair Jerome Powell warned Tuesday that a tentative recovery from the pandemic recession could falter unless the federal government supplies additional economic support. Yet hours after Powell's remarks, President Donald Trump announced that he was cutting off talks with Democrats over a new economic aid package until after the November elections. But the U.S. economy still faces threats, and without further aid, those downward trends could still derail the recovery, Powell said. In recent months, in speeches and in testimony to Congress, Powell has repeatedly urged lawmakers to enact an additional economic aid package. “Still, since it appears that many will undergo extended periods of unemployment, there is likely to be a need for further support,” Powell said.
Gov. Abbott to allocate over $171M to go toward rental assistance
Read full article: Gov. Abbott to allocate over $171M to go toward rental assistanceAUSTIN – Texas Gov. Greg Abbott announced Friday that he will be allocating over $171 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding that will go toward helping Texans at risk of becoming homeless due to eviction. According to a news release, the funds will allow the local and state officials to work with non-profits to help people catch up on missed rent payments so they can stay in their homes and avoid an eviction on their record. “The Texas Eviction Diversion Program is crucial to our state’s response to COVID-19, and it will help many families recover from the impact of the pandemic without the looming threat of eviction,” Abbott said. “This innovative partnership, coupled with the renters assistance provided through CARES Act funding, will strengthen our economic recovery efforts and provide a lifeline to renters and property owners alike.”Of the funds, $167 million will go toward rental assistance and about $4.2 million will be “allocated through the Texas Supreme Court to help the state’s legal aid providers and pro bono lawyers provide basic legal services to eligible Texans through this pandemic.”
Mnuchin and Powell back jobless aid and small business loans
Read full article: Mnuchin and Powell back jobless aid and small business loansMnuchin agreed that business loans and enhanced unemployment support would be good priorities for Congress to back in any new package. Pressed to state what the top priorities should be, Powell cited providing more support through the popular Paycheck Protection Program for small businesses and boosting unemployment benefits. The original relief package provided a $600-a-week federal unemployment benefit, on top of whatever jobless aid a state provides. Powell repeated his view that providing more support was essential to keep the economy on a sustained upturn. Mnuchin was pressed by some senators to further simplify government forms that businesses need to provide to qualify for having their Paycheck Protection Program loans forgiven.
How many different COVID-19 tests are there?
Read full article: How many different COVID-19 tests are there?At the testing center, family nurse practitioner and clinic owner Melissa Herpal offers COVD-19 tests without an appointment for $150. A Certified Nurse Practioner for eight years now, Herpal explains there are two very different COVID-19 tests and you need to know the difference. One of the biggest questions is if you have health insurance, how much should you have to pay for a COVID-19 test? Channel 2 Investigates called a wide range of local clinics for their prices on COVID-19 testing without insurance, and we found a range of costs from just under $80 up to $200. Finally, if you’re strapped for cash, Herpel recommends going to one of the many free COVID-19 testing sites.
Texas is withholding millions of dollars in COVID-19 relief meant for Houston-area schools
Read full article: Texas is withholding millions of dollars in COVID-19 relief meant for Houston-area schoolsHouston Independent School District — the biggest school district in Texas, and eighth-largest in the U.S. — was supposed to get $81 million in federal money. You can see all of the CARES Act entitlements for Texas schools here. TEA holding some entitlement moneyIn Texas, school funding is based largely on enrollment and attendance. The Texas Education Agency, which oversees schools across the state, waived the attendance rule in March when COVID-19 forced schools to go virtual. “Back when we had a federal stimulus package… when they basically supplanted the federal dollars to local dollars.
If you live in Montgomery County, you can now apply for financial assistance of up to $2,500 per household
Read full article: If you live in Montgomery County, you can now apply for financial assistance of up to $2,500 per householdHOUSTON – Montgomery County is accepting applications for financial relief from residents who are badly affected by the coronavirus pandemic, the county announced Tuesday. In early June, Montgomery County Commissioners approved the plan to allot $65 million towards providing residents with economic relief during the pandemic. The program is available for residents “of any income level who meet certain criteria.”Residents may apply for financial assistance through Sept. 15 (or until funds run out) and the assistance will be capped at $2,500 per household, officials said. As of Wednesday morning, more than 9,000 applicants had submitted an interest in applying for the program, a Montgomery County official said. If you would like to apply, you can do so on the Montgomery County website.
With the threat of evictions looming, Harris County, Houston recovery czars set up task force
Read full article: With the threat of evictions looming, Harris County, Houston recovery czars set up task forceOn March 19, Governor Greg Abbott issued a 2-month moratorium on evictions during the pandemic which expired in May. The Texas Supreme Court then ruled that evictions and debt collection may resume in the state. If a landlord has a federally backed mortgage or participates in a federal assistance program then evictions on those properties cannot yet proceed. However, a huge number of residents in Houston and Harris County remain uncertain of whether they will keep the roof over their heads amid the pandemic. Thursday, Harris County Judge Lina Hidalgo said in a press conference that she could not issue another moratorium under the current state orders.
Why 2020 may be the best year to borrow from your retirement
Read full article: Why 2020 may be the best year to borrow from your retirementHouston – With so many people unemployed, many are considering pulling money out of retirement plans to pay bills. Why 2020 is the best year to borrow from retirement plansThe federal CARES Act includes provisions that make it easier and less punitive for people who have been impacted by COVID-19 to take money out of their IRAs, 401ks and other qualified plans. Until the end of 2020, you can withdraw up to $100,000 from a qualified retirement account with no 10% penalty. Proceed with CautionDon’t think of this as a free pass to use your retirement money if your income has not been impacted by COVID-19. If you can’t provide that, you will likely have to pay the taxes and penalty on the money you took out.
Some nursing homes are taking residents’ stimulus checks, FTC warns
Read full article: Some nursing homes are taking residents’ stimulus checks, FTC warns(CNN) – Nursing homes have no claim to their residents' stimulus checks. The Federal Trade Commission reported that that nursing homes in several states are requesting residents sign over their stimulus checks. Here's why: The stimulus checks are considered tax credits per the CARES Act, which is providing economic relief to people and businesses. And if you're not sure whether you're being swindled, the FTC has a resource to identify common coronavirus scams. Some links may contain malware that can steal the user’s private information so scammers could claim their checks.
Evictions in Texas can move forward again, so what rights do tenants have?
Read full article: Evictions in Texas can move forward again, so what rights do tenants have?The Cares Act is the massive federal economic aid package passed in March. If a landlord has a federally backed mortgage or participates in a federal assistance program then evictions on those properties cannot yet proceed. Texas Housers put up a map of 14,000 multi-family units with federally backed mortgages in Texas. “We weren’t able to get data because of privacy concerns on single-family rentals that have federally backed mortgages,” said Middleton. Middleton suggests sending a letter to your landlord to inquire whether the property falls under the CARES Act.
A call to expedite the release of funds for college students under CARES Act during pandemic
Read full article: A call to expedite the release of funds for college students under CARES Act during pandemicHOUSTON – Congresswoman Sheila Jackson Lee is calling to expedite the release of funds for college students under the CARES Act. Khaniya Burley said she applied for the funds online on Monday, she said the application process at Texas Southern University was streamlined“It was very smooth, now it’s just a waiting game,” Burley said. According to Lee, Texas Southern University was awarded $11.79 million in CARES Act funding and has only received $5.89 million. She said that eligible students everywhere need access to the federal funds now and called for the process to be streamlined. “Move quickly to get these funds to these various institutions because our students need those dollars and our institutions need those dollars," she said.
Confused about delaying your mortgage payments? Here’s how you can decide if it’s right for you.
Read full article: Confused about delaying your mortgage payments? Here’s how you can decide if it’s right for you.(CNN) -- When Mark Miano’s real estate business slowed following the coronavirus shutdown, he called his mortgage company to ask about delaying payments for his home in Los Gatos, California. Forbearance -- or the process of delaying mortgage payments for a given period of time -- is typically allowed only on a case-by-case basis for homeowners experiencing hardship or after a natural disaster. Under the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, homeowners affected by coronavirus with federally backed loans can delay or reduce payments for up to a year. "What they are offering now could certainly help borrowers that get laid off or don't have the money to make the mortgage payment," he said. During the forbearance period, servicers will typically evaluate your situation to determine your ability to pay.
United Airlines plans to reduce 15,000 employees’ hours to 30 a week
Read full article: United Airlines plans to reduce 15,000 employees’ hours to 30 a weekHOUSTON – United Airlines plans to cut hours for roughly 15,000 employees, including many in the Houston area. On Friday, the airline said certain full-time workers would be reduced to 30 hours a week beginning on May 24. “The cuts are going to be as steep as ten hours a week,” said Victor Hernandez, assistant general chairman with IAM. The change would turn the impacted employees into part-time workers, the airline said. The airline said it does not know how long the reduced hours will last.
Mortgage relief: What you need to know before you call your lender
Read full article: Mortgage relief: What you need to know before you call your lenderHOUSTON – Many homeowners that are having a hard time paying their mortgage during this pandemic can ask their mortgage company for help. But Consumer Reports researchers said many mortgage companies were giving homeowners who called inaccurate information. There are four options homeowners and mortgage companies can choose to repay those skipped payments back when the homeowner gets back on their feet. You can find out if you have a federally-backed mortgage, by using Fannie Mae’s look-up tool or calling 800-232-6643. If your mortgage is federally backed, and you need help, call your mortgage company back and ask for it.
Man sues Trump for denying stimulus payments to American citizens married to immigrants
Read full article: Man sues Trump for denying stimulus payments to American citizens married to immigrantsA man from Illinois is suing President Donald Trump for denying stimulus payments to American citizens who are married to immigrants who don’t have social security numbers, Fox 10 reports. The plaintiff, named in the class-action lawsuit under the alias “John Doe,” and his spouse reportedly file their tax returns jointly. The couple, who have two children who are also American citizens, would have received $3,400, as long as both their child are younger than 17-years-old. According to Fox 10, the suit claims that the plaintiff and other Americans married to immigrants have been discriminated against. For married couples who file jointly, their income must be less than $99,000.
Rent. Student loans. Utility bills. How to get help if you can’t pay your bills
Read full article: Rent. Student loans. Utility bills. How to get help if you can’t pay your billsMortgagesHomeowners struggling to pay their mortgage should contact their loan servicer to discuss payment options. Some states are offering rent assistance, like Delaware, which offers up to $1,500 to residents struggling to pay rent or electric bills because of coronavirus. Student loansThose with federal student loans may not have to make payments through September 30, as the government is suspending payments and waiving interest on federal student loans for six months. The six-month suspension and interest waiver applies only to federally held loans, roughly 85% of federal student loans. That includes Direct federal loans, as well as PLUS loans that parents may have taken out on behalf of their children.
Finance Friday: Here’s everything you need to know regarding the new CARES Act
Read full article: Finance Friday: Here’s everything you need to know regarding the new CARES ActThe advertiser paid a fee to promote this sponsored article and may have influenced or authored the content. The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. HOUSTON – You’ve probably heard of the Federal CARES Act that aims to provide relief to Americans as a result of covid-19. Certified financial planner and president of Shakiba Capital, Trevor Shakiba along with certified public accountant with Jenkins and Associates, Kevin Jenkins share 6 important updates regarding the act.